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The period drama will end its run after Friday's second season finale.

The premium cable network has opted to not move forward with a third season of the period drama."Magic City will be concluding its two-season run on Starz with Friday's series finale. We are tremendously proud of the series and everyone involved. From the writers, to the cast and crew, it has been an incredible collaboration," Starz said in a statement. "This was a story born from Mitch Glazer's singular vision of Miami, the Magic City of his childhood, and we are grateful to him for bringing it to life on Starz. The season's story arc will allow us to deliver a satisfying conclusion to the series, and we thank all the fans who checked in to the Miramar Playa."

Magic City was one of the network's first original scripted dramas that was initially ordered direct to series -- a pattern that has become the trademark of its development process. The network renewed Magic City for a second season ahead of its series premiere, as it did with Kelsey Grammer's Boss and most recently with Michael Bay's upcoming pirate drama Black Sails.

Speaking to reporters last week at the semi-annual Television Critics Association's summer press tour, Starz CEO Chris Albrecht reiterated that the network was "fans of the show."

"Our policy process is one or two seasons of a show to really get behind something if we like the work. We’re now evaluating all the options with Magic City," he said. "But, like I said, we have a couple of little surprises in our pocket in store, so I can’t reveal too much other than you’ll have the answer to your question soon." For Starz, the cancellation comes as the network continues to ramp up production on its original programming. The network has Black Sails and the recently renewed DaVinci's Demons among its originals set for 2014 as well as Ron Moore's Outlander, Curtis "50 Cent" Jackson's Power and Fortitude also set for next year as it makes a push to have 50 hours of originals on the air.

Magic City, starring Jeffrey Dean Morgan, was never a strong performer in the ratings -- and its Friday time slot was rarely a help to fellow axed drama Boss -- which also ended its run after its sophomore season. (Recent talks for a two-hour movie to wrap the series also fell through.) Magic City's series premiere fetched 965,000 total viewers over the entire weekend in 2012, softer than Boss, Spartacus and DaVinci's Demons. First runs of Magic City have fetched between 300,000 and 500,000 viewers in the Friday hour, though a recent episode dipped to a near low of 320,000 viewers.

So basically they axed it to make room for Michael Bay and 50 Cent? Booooo. :\\\\\ It's never been stunningly amazing, but it's always been compelling, and the cast is fab & beautiful and often naked and I am sad. (Petition for Danny Huston to join Boardwalk Empire...?!)source

I watched the first episode and had plans to watch the rest of the season going into the second one but I was so damned distracted by all of the smoking. If they weren't already smoking a cigarette they were lighting one, and if they weren't lighting one they were snubbing it out. I get that's how it was back then but JFC, it was almost as bad as Mad Men.

But seeing Danny Huston in a tight bathing suit kinda made up for it all.

Guess they didn't like torchwood or gravity enough to renew either before the first series.

But i'm not surprised with gravity. The character the creator wrote for himself was really creepy, the storylines were weird and I probably wouldn't have wanted to watch season 2 after losing my dad to suicide around the time of the finale. :/